Welcome to the Panama Weekly News Roundup! Here’s the latest.
Panama Canal Fever Sweeps Globe Again as New Era in Trade Nears
As the opening of the expanded Panama Canal nears completion, the focus once again is concentrated on the global economic benefits associated with it. This has ramifications for a number of industries, which are preparing to benefit greatly after its completion.
The debut coincides, fortuitously, with a surge in U.S. natural-gas production that has shale outfits suddenly seeking out new export markets. The deeper channels will be able to accommodate the kind of massive tankers that transport liquefied natural gas, shaving eleven days and a third of the cost off the typical round trip to the Far East. Markets from Chile to China will also become more accessible for oil drillers across the Americas while millions of tons of container shipments originating from Asia could start bypassing western U.S. ports and opt to dock instead along the Gulf Coast or Eastern seaboard.
Source: Bloomberg
2016 Latin American Cities Conferences held in Panama City next month
This June, Panama City will host a landmark event, as part of a series of Latin American conferences aimed at focusing on cities, and capital growth and business. Here’s what’s in store.
Panama’s economy grew by almost 6 percent in 2015. The Inter-American Development Bank forecasts that the country will continue to lead Latin America and the Caribbean in economic growth in 2016. Investments in infrastructure and logistics have been critical to this high growth and will remain so in the coming years. Even though public spending will drop as the canal expansion nears its completion in June 2016, logistics will play a progressively important role in the country’s economy.
Beyond the canal expansion, there are many other logistical projects taking shape, such as the second subway line (a $2 billion monorail), the mixed real estate project Panama Pacifico, the country’s first natural gas-powered plant and liquefied natural gas, among others. This conference will analyze the steps which must be taken to execute a national logistics plan and the opportunities for international investors.
Source: As/Coa
Panama thanks Spain’s Rajoy for his support for Canal expansion
Spain has played an integral part in Panama’s Canal expansion project, mostly through construction and development contracts. This week, the government of Panama, and specifically the president, thanked them.
“I would like to thank Prime Minister Rajoy for the support he gave to Panama at all times … in this expansion project,” Varela said during a visit to the Canal, on which he was accompanied by Spanish Development Minister Ana Pastor, who arrived Sunday in Panama on an official visit.
Also visiting the Canal were Sacyr construction firm president Manuel Manrique, the High Commissioner for Brand Spain, Carlos Espinosa de los Monteros, and a delegation of Spanish journalists.
“As you have seen on this visit, Panama is a country with a very diversified economy, with its logistic model, with the Canal, with ports, airports, all being expanded and with the presence of Spanish technology,” Varela said.
Source: Fox News Latino
5 Panama City Day Trips Everyone Should Take
If you’re living in or visiting Panama City, there are lots of things to do, but that doesn’t mean that you shouldn’t go exploring. Nearby Panama City, there are tons of fun day trips, each with their own unique flavor and appeal. Here’s an example of one of our favorites. Get the other five from our latest blog post!
1. Coronado Beaches
If you’re a beach lover, and also like a bit more of a modern, developed beach experience, then Coronado is your place. It’s just over an hour’s drive from Panama City, and is located right off the Pan-American Highway. It’s very modern, and almost suburban feeling in the town, which means lots of restaurants, shopping, and supervised beach activities for the whole family. You can get there by renting a car, or taking a taxi (about $60 each way). You can also take the bus from Albrook, however this extends travel time by about double due to stops.
Continue reading about Panama City Day Trips
